bilateralism & multilateralism
Dr. Herminio Blanco, the Mexican Candidate for the position of the Director General of the World Trade Organisation, says the rules being negotiated in the WTO are becoming obsolete when compared to free trade agreements negotiated all over the world.
Bilateral Investment Treaties (BITs) have been widely used as a warranty against political risks in developing countries. This paper analyzes the most substantive provisions of the Colombian signed BITs and the investment chapter of the US-Colombian FTA in order to determine their impact on risk mitigation.
The annual meeting of the World Economic Forum, held in the Swiss ski resort of Davos, came to a close on Saturday 28 January, with many policymakers making a push for bilateral and regional trade pacts - including an EU-US agreement - in the absence of progress in the Doha Round.
British Prime Minister David Cameron backed the idea of a free trade deal between the European Union and the U.S. on Thursday, suggesting that a trans-Atlantic pact could deliver a much-needed boost to global commerce.
Free trade agreements designed in a different era can prevent or hinder the policy measures developing countries need to address the growing global economic crisis, and deserve to be reviewed.
Jayant Menon discusses the trade policy challenges faced by Cambodia, Lao PDR, Myanmar and Viet Nam (CLMV)—the newest members of ASEAN. The paper concludes that the multilateralised single-rate system is a better alternative to the multiple-rate system and thus suggests that CLMV countries should follow the original ASEAN members and multilateralize their CEPT tariff preferences. It encourages both old and new members to do the same, especially in the context of proliferating ASEAN+1 FTAs
Impatience with long-running world trade talks, and a desire to snap out of slow economic growth, explain why countries are flocking to a US-led Asia-Pacific free trade agreement, New Zealand Trade Minister Tim Groser said on Sunday.
On 1 October, eight governments – Australia, Canada, Japan, Korea, Morocco, New Zealand, Singapore, and the United States – signed the Anti-Counterfeiting Trade Agreement (ACTA), negotiated entirely behind closed doors with almost no known input from the public or elected officials.
India will keep signing free trade pacts with regional blocs and countries to boost merchandise exports, top officials said, as the World Trade Organization’s Doha round of talks remains deadlocked and economies in traditional western markets struggle to recover.
FTAs are worse than the WTO because they demand much more, writes Amit Sengupta
Late last week, a longstanding debate over free-trade agreements with South Korea, Colombia and Panama — deals that were negotiated under President George W. Bush but never finalized — stalled once again. President Obama supports the agreements, but only if more retraining for workers is part of the deal, a condition Republican leaders are resisting.
The World Trade Organization’s chief on Wednesday took aim at the growing number of small free-trade deals being signed among the group’s 153 member nations, saying such deals could limit opportunities with countries outside the group.
India may agree in the WTO negotiations to cut tariff in specific sectors in which the country is, any way, slashing duties under Free Trade Agreements with different countries and blocs, a Commerce Ministry official said today.
With the demise of the Free Trade Area of the Americas, a realignment of trade alliances is evident in the hemisphere—witness ALBA, Petro Caribe, expanded Mercosur. In the aftermath of the Lome Convention between the European Union and its former colonies of Africa, Caribbean and the Pacific, the age of preferential trade agreements came to an end and the era of reciprocal trade was born.
The decade-old Doha round of World Trade Organization negotiations may have to be revamped or ended, US Trade Representative Ron Kirk said.
Before mid-year South Africa would host the next summit on the establishment of a Trilateral Free Trade Agreement (T-FTA) among the regional economic groupings of the East African Community (EAC), the Common Market for Eastern and Southern Africa (Comesa), and the Southern African Development Community (SADC).
South Africa is considering bilateral trade agreements with Japan, Turkey and New Zealand, but a preferential trade agreement with India, currently under negotiation, is enjoying priority, said Brendan Vickers, a chief director at the department of trade and industry.
Given the changing international trade environment, India needs to strike the right balance between regionalism and multilateralism.
The fate of the multilateral Doha Round talks to come up with an outline agreement for the World Trade Organisation (WTO) by July rests in the hands of both developed and developing economies, said European Union Trade Commissioner Karel De Gucht.
ADB and ADBI conducted firm-level surveys in six East Asian countries, the results of which are published in the book “Asia’s Free Trade Agreements: How is Business Responding?” released on 21 January 2011.